XTX Topco Ltd Acquires 19,472 Shares of MetLife, Inc. (NYSE:MET)

Key Points

• XTX Topco Ltd increased its holdings in MetLife by 174.4% in the first quarter, now owning 30,635 shares valued at approximately $2.46 million.
• MetLife's board approved a $3 billion share buyback plan, indicating a belief that the stock is undervalued.
• Analysts have mixed ratings, with several upgrades on price targets, including Barclays raising theirs from $88.00 to $94.00, and a consensus target price of $96.09.

XTX Topco Ltd grew its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 174.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,635 shares of the financial services provider's stock after acquiring an additional 19,472 shares during the period. XTX Topco Ltd's holdings in MetLife were worth $2,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MET. Banque Cantonale Vaudoise bought a new position in shares of MetLife during the first quarter worth approximately $2,172,000. Algebris UK Ltd increased its holdings in shares of MetLife by 25.8% during the first quarter. Algebris UK Ltd now owns 449,773 shares of the financial services provider's stock worth $33,431,000 after purchasing an additional 92,140 shares during the period. GSA Capital Partners LLP increased its holdings in shares of MetLife by 136.0% during the first quarter. GSA Capital Partners LLP now owns 14,721 shares of the financial services provider's stock worth $1,182,000 after purchasing an additional 8,482 shares during the period. Meeder Advisory Services Inc. increased its holdings in shares of MetLife by 9.0% during the first quarter. Meeder Advisory Services Inc. now owns 16,514 shares of the financial services provider's stock worth $1,326,000 after purchasing an additional 1,365 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in shares of MetLife by 14.4% during the first quarter. Foundations Investment Advisors LLC now owns 3,330 shares of the financial services provider's stock worth $267,000 after purchasing an additional 420 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Down 2.6%

Shares of NYSE:MET traded down $1.95 during mid-day trading on Friday, reaching $74.00. 4,383,241 shares of the company's stock were exchanged, compared to its average volume of 3,390,276. The firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.61 and a beta of 0.85. The business's fifty day moving average price is $78.46 and its 200-day moving average price is $79.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.89% and a net margin of 6.08%. The firm had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.06 billion. During the same period in the prior year, the business earned $1.83 EPS. MetLife's quarterly revenue was up 15.6% on a year-over-year basis. On average, research analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife announced that its board has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's payout ratio is 36.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MET. Barclays raised their target price on shares of MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wall Street Zen cut shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods decreased their price objective on shares of MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $97.00 price objective (up from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, MetLife has an average rating of "Moderate Buy" and an average price target of $96.09.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.